MILWAUKEE — The
underperforming summer lineup of movies had negative effects far
beyond Hollywood. On Thursday, The Marcus Corporation reported that
its net earnings declined 23.6 percent during the third quarter for
a total of $10,978,000 when compared to the third quarter of 2016
when net earnings were $14,372,000.

The
Milwaukee-based company also reported that total revenues for the
third quarter of fiscal 2017 were a record $153,818,000, a 6.3
percent increase from revenues of $144,695,000 for the third quarter
of fiscal 2016. Operating income for the third quarter of fiscal
2017 was $21,435,000, a 13.2 percent decrease from operating income
of $24,683,000 for the third quarter of fiscal 2016.

“As has been
well reported, the weaker than anticipated film slate hampered the
traditionally strong summer movie season. While July and August were
down for Marcus Theatres, the division ended the quarter with a very
good September and we are heading into what we expect will be a
strong fourth quarter for our theatres. Marcus Hotels & Resorts once
again outperformed the competitive set in its markets, despite lower
group revenues during the third quarter,” said Gregory S. Marcus,
president and chief executive officer of The Marcus Corporation, in
a statement.

Marcus Theatres
reported a 9.6 percent increase in revenues for the third quarter of
fiscal 2017, compared to the same period last year. The five
top-performing films for Marcus Theatres in the third quarter of
fiscal 2017 were “It,” “Spider-Man: Homecoming,” “Despicable Me 3,”
“Dunkirk” and “War for the Planet of the Apes.”

“We believe the
investments we are making in our existing theatres, the work being
done every day by our focused and collaborative team, and an
anticipated slate of strong holiday season films position us well to
end the year on a high note,” said Rolando B. Rodriguez, chairman,
president and chief executive officer of Marcus Theatres, in a
statement.